Industrial Air Quality Monitoring System Market - Global Outlook & Forecast 2023-2028
The global industrial air quality monitoring system market size is expected to grow at a CAGR of 6.32% during 2022-2028
MARKET TRENDS & DRIVERS
Growing Construction Industries Ignite the Usage of Air Quality Monitor Systems
The air quality monitoring system facilitates the analysis of long-term trends of poor air quality and dust concentration in the construction site. It helps managers or site officials to plan mitigative strategies based on the air quality condition. The construction industry refers to the industrial branch of manufacturing and trade related to repairing, building, renovating, managing, and maintaining infrastructures. According to Oxford Economics, the global construction industry market is expected to reach USD 8 trillion by 2030. The construction volume is expected to be 85% worldwide, with three countries, China, the US, and India, leading the global market, accounting for approximately 57% of the global growth. China, the world's largest construction market, is expected to grow only marginally by 2030. The construction market in India is expected to grow twice as fast as China by 2030, as the urban population in India is expected to grow by 165 million.
Rise of Petrochemical Industries Aggravate the Demand for Air Quality Monitor Systems
Petrochemicals are quickly becoming the largest driver of global oil demand. The need for petrochemicals is attributed to a rise in the demand for downstream products from various end-use industries such as automotive, pharmaceuticals, and construction, which is a significant factor driving the market. Petrochemical is an essential component for many industrial processes; therefore, it forms the backbone of the commercial and industrial economy. Certain products derived from petrochemicals include industrial oil, tires, detergents, and plastics. Basic plastic derivatives from the product act as a construction or building block in consumer goods manufacturing. However, carbon dioxide, sulfur and nitrogen oxides, ammonia, acid mist, and fluorine compounds gas emissions are produced from petrochemical production or during the refining processes in the industry. This could be the major drawback for the degradation of air quality by releasing several pollutants like Volatile Organic Compounds (VOCs) into the surrounding atmosphere, which causes cancer and other harmful diseases. Therefore with air quality monitoring systems, industries can detect the presence of toxic levels in the air and monitor air quality to take intelligent actions to improve the quality of air for industrial workers. Hence the growing number of petrochemical industry sites is projected to boost the industrial air quality monitoring system market.
INDUSTRY RESTRAINTS
Slow Application of Air Pollution Control Reforms Worldwide
The sluggish implementation of air pollution standard rules is one of the major issues related to the market for air quality monitoring systems. Several growing countries (including China and India) have been accused of being reluctant to enact severe environmental pollution monitoring standards over the last decade. The 2021 World Air Quality Report was released by the Swiss air quality technology company IQAir. It measured the concentration of fine particulate matter (PM2.5) in the air in 6,475 cities in 117 countries with the help of using a network of thousands of monitoring stations. It found that in 2021, out of 15 highly polluted cities in Central and South Asia, 11 were in India. Industrial facilities must stand by the Environmental Protection Agency (EPA) regulations regarding abatement mechanisms and emission pollution.
SEGMENTATION INSIGHTS
INSIGHTS BY PRODUCT TYPE
The indoor air quality monitor system dominated the product type segment in the global industrial air quality monitoring system market and was valued at USD 1.00 billion in 2022. According to the Europe Environment Agency, in 2020, the United Kingdom, France, Italy, and Germany contributed around 41% of indoor air pollution in the industrial sectors in the region. The impact of air pollutants on industrial workers is more due to the increased concentration level of pollutant contaminants. The indoor AQM system thus helps industrialists to build a healthier working environment to maintain the AQI under control. By comparing the real-time air quality data with ideal conditions, industries can facilitate adequate ventilation, control the production of pollutants in the facility, and keep temperature & humidity levels within a comfortable range. Therefore the rising pollution level helps to increase the market growth for the industrial indoor air quality monitoring system in the forecast period.
Segmentation by Product Type
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